Global Wind Power Systems Market 2018-2022 - ResearchAndMarkets.com

The global wind power systems market to grow at a CAGR of 5.96% during
the period 2018-2022.

Global Wind Power Systems Market 2018-2022, has been prepared based on
an in-depth market analysis with inputs from industry experts. The
report covers the market landscape and its growth prospects over the
coming years. The report also includes a discussion of the key vendors
operating in this market.

One trend in the market is global energy transition. Globally the power
sector is undergoing a major transition as power generation from fossil
fuels is slowly being replaced with renewable sources.

According to the report, one driver in the market is growing investments
in renewable energy. The overall cost of generating electricity from
renewable energy sources is more as compared to generating electricity
from conventional sources. As a result, significant investments are
being made to develop technology to efficiently generate electricity
from different renewable energy sources.

Further, the report states that one challenge in the market is
competition from fossil fuels. In 2016, the share of renewable energy in
the global primary energy consumption was 15%. Between 2001 and 2016,
the share of wind power in the global electricity generation mix
increased steadily at a double-digit growth rate.